Hello,
Can some help.
I have made approx 6100 profit in the 02/03
tax year from buying/selling shares.
But i have also made a loss of 3700 on some
of the other shares that i sold.
Do i have to offset my losses against the gains,
or can i keep all of the 6100 profit as it is
under the capital gains threshold, and carry
the 3700 losses over to next years trading
to be used against 03/04 gains ( if any !) .
Thanking you kindly
Tom

In other words you want to carry over you capital gains allowance from one year to the next? Isn't that like carrying over a tax allowance from one year to the next so if say you don't work for a year you get twice as much the next. Or what about those who haven't claimed any capital gains for 10 years, do they have 10 years worth of CGT allowance then?

do you think the meanies would allow us?

What Jumpin means is that sadly it is the balance of gains after losses that is compared with the threshold, and the losses in this case are not available to be taken forward. :-)

Current year losses are ALWAYS put against the current year profits even if the final figure is under the CG Allowances -

BUT if you have prior years losses b/fwd (as they exceed the profits in that year) you can limit the amount used in the next year so your profits are the same as the CG Allowances the rest of the losses can continue to be c/fwd until such time you can utilise them!